2018 Kingstowne Home Sales Market Review
The tune of it being a seller’s market played in Kingstowne throughout 2018. Final numbers show that the number of homes sold remained fairly consistent, an increase of 16 from 2017. Sale prices were a different story; up by over 5% in 2018 and days on the market were down by over 11%. Sellers also saw a 98.7% sale to list price in 2018.
So what does this mean for Kingstowne real estate? It was an excellent year for sellers. Inventory remained low (and still is) which causes buyers to wait for new homes to become available and they are poised to act as soon as they do. We currently have less than a one month supply of inventory. If you’re considering selling your Kingstowne home reach out to me and let’s talk. Winter might be in full swing but, that doesn’t mean it’s not an excellent time to list your home in Kingstowne.
It’s still important to keep perspective as a seller and not have a pie in the sky price in mind for your home. If you price your incorrectly and buyers perceive it as a poor value it will sit on the market. Bottom line, it’s an excellent time to list your Kingstowne home but, you have to be realistic about pricing and keeping perspective is key.
If you’re planning a move to Alexandria, Kingstowne is an area buyers often consider due to its close proximity to DC, Tysons’s Corner, Old Town, major commuter routes, and public transportation. Kingstowne is an urban community with tree lined streets and over 1,200 acres of green space. You’ll find apartments, condos, townhomes, and single family homes along with amenities including a lake, walking trails, outdoor pools, fitness centers, sports courts, and tot lots.
A question I’m frequently being asked” “Is the market crashing? I heard on the news that it’s down.” No the market is not crashing, it is stabilizing in some areas and not everywhere is a seller’s market, some areas are even a buyer’s market but, real estate local. Hyper local. Market conditions vary in different neighborhoods so when you’re listening to the news just understand that what they’re saying isn’t specific to your market. If you’re a property owner interested in knowing the current market trends reach out to me. I’m happy to provide you with a free market analysis for your home! firstname.lastname@example.org or 703-431-3755.